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Mar 31, 2022
BeiGene Q1 2022 Earnings Report
BeiGene's product revenue increased, driven by BRUKINSA and tislelizumab, and the company progressed with clinical trials and manufacturing facility construction.
Key Takeaways
BeiGene reported a strong first quarter with a 146% increase in product revenue, driven by growth in BRUKINSA and tislelizumab sales. The company also made progress in clinical trials and manufacturing operations, including the groundbreaking of a U.S. manufacturing and clinical R&D facility.
Product revenue increased by 146% to $261.6 million compared to the prior year period.
BRUKINSA product revenue increased by 372% globally, driven by growth in the U.S. and China.
Tislelizumab sales in China increased by 79% compared to the prior year period.
The company held a groundbreaking for its flagship U.S. manufacturing and clinical R&D facility in Hopewell, N.J.
Revenue by Segment
Forward Guidance
BeiGene expects to achieve several milestones in the coming year, including presenting clinical data, supporting regulatory reviews, announcing final analysis data, and expanding the registration program for BRUKINSA globally.
Positive Outlook
- Present clinical data from the global Phase 2 ROSEWOOD trial in R/R follicular lymphoma at the 2022 ASCO annual meeting.
- Continue to support ongoing FDA review of the supplemental new indication submission for CLL/SLL, which has a PDUFA target action date of October 22, 2022.
- Continue to support the EMA review of new indication applications for CLL and MZL.
- Announce final analysis data for the global Phase 3 ALPINE trial including progression-free survival in the second half of 2022.
- Continue to expand BRUKINSA’s registration program globally in new geographies and indications, including potential launches in 2022 in more than 10 markets.
Challenges Ahead
- The company expects that the worldwide health crisis of COVID-19 will continue to have a negative impact on our operations, including commercial sales, regulatory interactions, inspections, filings, manufacturing, and clinical trial recruitment, participation, and data read outs.
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